LIC Agent Commission

POSTED BY Ashok Shah ON October 13, 2012 5:39 am COMMENTS (2)

Is Commission discontinued if LIC agency is suspended for not completing the target?

2 replies on this article “LIC Agent Commission”

  1. Dhinesh Kumar says:
    October 18, 2012 at 2:50 pm

    As for as i remeber section 44 Insurance act 1938 – says that agent can get renewal if atleast he works for minimum 5 years ( Doing minimum business ),otherwise the renewal can get stopped if the licence terminated in between.

    Reply
  2. Manish Chauhan says:
    October 16, 2012 at 6:30 pm

    Yes , it might happen . There were some rules from IRDA on the clients recency , like atleast 50% clients should pay the premium next years !

    Reply

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